DC RELATIONS: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
DC RELATIONS
Largest movements
- Tangible fixed assets -€3,562
down €3,562 (-7.5%), from €47,622 to €44,059
- Profit (loss) carried forward -€14,671
down €14,671 (-9.2%), from -€158,959 to -€173,630
- Short-term financial debts +€11,210
up €11,210 (+8.2%), from €136,716 to €147,926
- Gross operating margin -€5,734
down €5,734 (-130.5%), from -€4,396 to -€10,130
- Taxes -€2,706
no longer reported in 2025 (was €2,706)
- Other operating charges -€1,184
down €1,184 (-59.6%), from €1,984 to €801
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €50,053 | €46,496 | -€3,557 | -7.1% |
| Fixed assets | 21/28 | €47,622 | €44,059 | -€3,562 | -7.5% |
| Tangible fixed assets | 22/27 | €47,622 | €44,059 | -€3,562 | -7.5% |
| Land and buildings | 22 | €47,622 | €44,059 | -€3,562 | -7.5% |
| Current assets | 29/58 | €2,432 | €2,437 | +€5 | +0.2% |
| Amounts receivable within one year | 40/41 | €2,411 | €2,411 | = | 0.0% |
| Other amounts receivable | 41 | €2,411 | €2,411 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €20 | €26 | +€5 | +25.5% |
| Total equity and liabilities | 10/49 | €50,053 | €46,496 | -€3,557 | -7.1% |
| Equity | 10/15 | -€86,759 | -€101,430 | -€14,671 | -16.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €10,200 | €10,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€158,959 | -€173,630 | -€14,671 | -9.2% |
| Amounts payable | 17/49 | €136,812 | €147,926 | +€11,114 | +8.1% |
| Amounts payable within one year | 42/48 | €136,812 | €147,926 | +€11,114 | +8.1% |
| Financial debts | 43 | €136,716 | €147,926 | +€11,210 | +8.2% |
| Other loans | 439 | €136,716 | €147,926 | +€11,210 | +8.2% |
| Trade debts | 44 | €97 | - | -€97 | |
| Suppliers | 440/4 | €97 | - | -€97 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,562 | €3,562 | = | 0.0% |
| Other operating charges | 640/8 | €1,984 | €801 | -€1,184 | -59.6% |
| Gross operating margin | 9900 | -€4,396 | -€10,130 | -€5,734 | -130.5% |
| Operating profit (loss) | 9901 | -€9,942 | -€14,493 | -€4,550 | -45.8% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €237 | €178 | -€59 | -24.8% |
| Recurring financial charges | 65 | €237 | €178 | -€59 | -24.8% |
| Profit (loss) for the period before taxes | 9903 | -€10,178 | -€14,671 | -€4,493 | -44.1% |
| Income taxes | 67/77 | €2,706 | - | -€2,706 | |
| Profit (loss) for the period | 9904 | -€12,883 | -€14,671 | -€1,787 | -13.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,883 | -€14,671 | -€1,787 | -13.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.